Swiss government to take control of military tech firm RUAG MRO
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Swiss government to take control of military tech firm RUAG MRO
The Swiss government decided on Wednesday to take control of the Swiss military technology firm RUAG MRO. The company will be made into a public limited company governed by a special law. Consultation on the change is open until March 23.
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The government will be the sole shareholder in RUAG MRO. The company’s primary role will be to help guarantee the equipment of the Swiss Armed Forces. Contracts with third parties will still be possible.
The Swiss government also sees the new legal form as a departure from the law governing public limited companies under private law, and as an opportunity to choose solutions that better reflect current practice and security policy concerns.
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Bill piles up for Swiss defence contractor fraud probe
The decision to review the legal status of the armaments company follows an audit by the Swiss Federal Audit Office at the end of 2024, which confirmed suspicions of irregularities in RUAG MRO’s transactions involving Leopard 1 tanks.
Translated from French by DeepL/jdp
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